Proof of funds

[karakou]

Hello Everyone,

Shall just provide my last 6 month bank statement as a proof of funds?

I got confuse with this requirement

The applicant should provide official letter(s) from financial institution(s) that list all current bank and investment accounts as well as outstanding debts such as credit card debts and loans.
The letter(s) must be printed on the letterhead of the financial institution and must include the applicant’s name, the contact information of the financial institution (address, telephone number and email address), the account numbers, the date each account was opened and the current balance of each account as well as the average balance in the past six months.

Thanks in advance

 

[Mrs Aj]

You need the official bank letter and the six months bank statement. The six months statement does not show when the account was opened.

 

[amamh]

This guide:
www. cic.gc.ca/ english/resources/tools/perm/express/intake-complete .asp

Also mentions:

"average balance in the past six months"


Is this a special requirement? or will a 6 months bank statement be accepted?

 

[darklord]

This guide:
www. cic.gc.ca/ english/resources/tools/perm/express/intake-complete .asp

Also mentions:

"average balance in the past six months"


Is this a special requirement? or will a 6 months bank statement be accepted?

They check the average balance from the 6 months bank statement you provide. This is a requirement that the average funds maintained should be same or above the funds requirement applicable to you.

 

[amamh]

Ok, so if we go through this again:

"The letter(s) must be printed on the letterhead of the financial institution
and include:
the applicant’s name

the contact information of the financial institution (address, telephone number and email address)

the account numbers

the date each account was opened

the current balance of each account

the average balance in the past six months."


As far as I can see, a bank statement should satisfy everything except:
- Date account opened
- Average balance. According to you, this shouldn't be a problem because they can calc the balance from the history.


So basically, if I get a bank statement with the account start date printed on it, that should be fine?
Correct?

 

[darklord]

Ok, so if we go through this again:

"The letter(s) must be printed on the letterhead of the financial institution
and include:
the applicant's name

the contact information of the financial institution (address, telephone number and email address)

the account numbers

the date each account was opened

the current balance of each account

the average balance in the past six months."


As far as I can see, a bank statement should satisfy everything except:
- Date account opened
- Average balance. According to you, this shouldn't be a problem because they can calc the balance from the history.


So basically, if I get a bank statement with the account start date printed on it, that should be fine?
Correct?

No incorrect. You will need to get two things:

Bank Certification Letter
6 months bank statement - even if you think the requirements for bank certification letter are satisfied by the bank statement expect 2 items.

Banks give bank certification letter, just ask for them and get bank statement. What is required by CIC are these two.

 

[amamh]

Thank you ! I will do that

 

[CanadaWeCome]

Dear all,
For all information related to 'Proof of Funds' please visit the below thread.

http://www.canadavisa.com/canada-immigration-discussion-board/-t349224.0.html

It is very exhaustive as well as informative.

Regards

 

[karakou]

Thank you all for the clarification. so I will go ahead and ask for the followings docs:

1. 6 month bank statement
2. Bank Certificate that has:

• the contact information of the financial institution (address, telephone number and email address)
  the account numbers
  the date each account was opened
  the current balance of each account
  the average balance in the past six months.

BTW, I have two bank accounts. So i should get these from both banks?

Thanks in advance

 

[vineshparekh]

If you are applying under CEC and you are currently working in Canada full time then too you need to show $11,000 maintained for last six months?

 

[darklord]

If you are applying under CEC and you are currently working in Canada full time then too you need to show $11,000 maintained for last six months?

No you do not need to show proof of funds if applying under CEC

 

[karakou]

If i have two bank accounts, should get the bank statements from both of them?

 

[darklord]

If i have two bank accounts, should get the bank statements from both of them?

If one bank account has enough funds (as per CIC requirement) then no need. Or else if the combination of two accounts shows the appropriate funds, then yes, you need bank statements and bank certification letter for both.

 

[sey]

i am about to pass my applicationfor express entry but i am worried because mysettlement fund is not yet complete..do i have to make sure that the proof of funds is complete before i apply for express entry?

 

[darklord]

i am about to pass my applicationfor express entry but i am worried because mysettlement fund is not yet complete..do i have to make sure that the proof of funds is complete before i apply for express entry?

Yes you should make sure sufficient funds (as per CIC requirements) are available in your bank account. Also, CIC checks the average funds in your bank statement for past 6 months. If large sum of money has been deposited into your account recently, then you will need to provide reasons and explain the source of funds.

Having sufficient funds is a major criteria.